Curv is a digital assets custody and security firm for institutions. Using multiparty computation technology, it provides a cloud-based wallet which is fully software driven; that is, there is no need for hot or cold wallets.
Curv eliminates the private key and instead relies on joint signing of transactions with customers in accordance with the particular agreement between Curv and a customer. The wallet service is insured by an underwriter in the Munich Re insurance group.
In June 2020 Curv raised $23 million in its Series A offering, which attracted participation by Digital Currency Group, Coinbase Ventures and CommerzVentures. Demand for Curv's digital product was driven in part by Germany's BaFin, which regulates digital asset custody.
PayPal, the 20-year-old digital payments provider, said on March 8, 2021 that it had agreed to purchase Curv. The price and other terms of the transaction were not provided.
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